SNG: South Africa’s ‘blue gold’: Ocean economy set to fuel jobs and growth – TradingView

Report on South Africa’s Ocean Economy and Alignment with Sustainable Development Goals

A report from the Ministry of Forestry, Fisheries and the Environment outlines the strategic development of South Africa’s ocean economy. The initiative, guided by the Oceans Economy Master Plan, is projected to contribute significantly to the national economy and employment, in direct alignment with several United Nations Sustainable Development Goals (SDGs).

Economic Projections and Contribution to SDG 8

The plan aims to leverage the nation’s marine resources to foster sustainable economic growth and create productive employment opportunities, directly addressing SDG 8 (Decent Work and Economic Growth).

• GDP Contribution: Projected to add R166 billion to the national GDP by 2035.
• Job Creation: Expected to create over 600,000 jobs by 2035, with a focus on provinces experiencing high unemployment.

Strategic Initiatives for Sustainable Marine Management

The framework for managing the ocean economy is built on principles of sustainability, conservation, and equitable use, reflecting a strong commitment to SDG 14 (Life Below Water).

Conservation and Biodiversity (SDG 14)

Key measures are in place to protect marine ecosystems while enabling economic activity.

1. Marine Protected Areas (MPAs): These designated zones are strengthening biodiversity and serve as hubs for sustainable coastal tourism, including diving and whale watching.
2. Marine Spatial Planning: This initiative ensures a balanced approach to ocean use, safeguarding critical ecosystems while facilitating sustainable commercial enterprise.

Industry Development and Innovation (SDG 9)

Significant investment is being channeled into key marine sectors to build resilient infrastructure and foster sustainable industrialization, in line with SDG 9 (Industry, Innovation, and Infrastructure).

• Aquaculture: Through the Operation Phakisa initiative, the aquaculture industry has attracted over R4 billion in investment over the last decade, becoming the largest employer in the marine sector.
• Harbour Revitalization: The “Fishing for Freedom” campaign is upgrading fishing harbours to stimulate job creation in associated industries such as fish processing, boatbuilding, and tourism.

Addressing Food Security and Social Equity

The plan incorporates strategies to enhance food security and promote inclusive growth, contributing to SDG 1 (No Poverty), SDG 2 (Zero Hunger), and SDG 10 (Reduced Inequalities).

• Inland Fisheries Policy: The Department of Forestry, Fisheries and the Environment (DFFE) is developing a policy to support inland fisheries, aiming to bolster national food security and create new business opportunities in rural communities.
• Inclusive Participation: The long-term success of the ocean economy is predicated on strong governance, innovation, and the inclusive participation of local communities, ensuring that benefits are distributed equitably.

Conclusion

South Africa’s Oceans Economy Master Plan represents a comprehensive strategy to unlock the economic potential of its marine resources, referred to as “blue gold.” By integrating economic development with environmental stewardship and social inclusion, the plan provides a clear framework for achieving multiple Sustainable Development Goals, particularly SDG 8, SDG 14, SDG 9, and SDG 2. The government’s commitment to this sustainable model positions the ocean economy as a renewable source of jobs, revenue, and national resilience.

Analysis of Sustainable Development Goals in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 8: Decent Work and Economic Growth

  The article directly addresses economic growth and job creation. It highlights the ocean economy’s potential to contribute R166bn to South Africa’s GDP and create over 600,000 jobs by 2035. The focus on aquaculture, marine tourism, and revitalising harbours are all strategies aimed at fostering sustained, inclusive, and sustainable economic growth.

• SDG 14: Life Below Water

  This is the central theme of the article. The entire discussion revolves around the sustainable use and conservation of oceans and marine resources. The “Oceans Economy Master Plan,” the establishment of Marine Protected Areas, and the Marine Spatial Planning initiative are all direct efforts to conserve and sustainably use the oceans for sustainable development.

• SDG 2: Zero Hunger

  The article connects the ocean economy to food security. It mentions that if used wisely, the oceans will “feed families.” More specifically, it points to the development of an inland fisheries policy designed to “bolster food security.”

• SDG 9: Industry, Innovation, and Infrastructure

  The article discusses the development of infrastructure and industry. The “Fishing for Freedom” campaign, which aims to revitalise South Africa’s fishing harbours, and the investments in aquaculture facilities are examples of building resilient infrastructure and promoting inclusive and sustainable industrialization.

2. What specific targets under those SDGs can be identified based on the article’s content?

1. SDG 8: Decent Work and Economic Growth

   • Target 8.5: “By 2030, achieve full and productive employment and decent work for all women and men…” This is directly relevant to the projection of creating “more than 600,000 jobs by 2035,” particularly in provinces “hardest hit by unemployment.”
   • Target 8.9: “By 2030, devise and implement policies to promote sustainable tourism that creates jobs…” The article explicitly mentions “marine tourism” and activities like “diving, whale watching, and small-boat excursions” as drivers of growth.

2. SDG 14: Life Below Water

   • Target 14.2: “By 2020, sustainably manage and protect marine and coastal ecosystems…” The article’s mention of “Marine Protected Areas” and the “Marine Spatial Planning initiative” directly aligns with this target of protecting ecosystems while enabling sustainable enterprise.
   • Target 14.7: “By 2030, increase the economic benefits… from the sustainable use of marine resources, including through sustainable management of fisheries, aquaculture and tourism.” The entire article is about increasing economic benefits (R166bn to GDP) through the sustainable management of aquaculture, fisheries, and tourism.

3. SDG 2: Zero Hunger

   • Target 2.1: “By 2030, end hunger and ensure access by all people… to safe, nutritious and sufficient food all year round.” The development of an “inland fisheries policy designed to bolster food security” is a direct action towards this target.

4. SDG 9: Industry, Innovation, and Infrastructure

   • Target 9.1: “Develop quality, reliable, sustainable and resilient infrastructure… to support economic development…” The “revitalising South Africa’s fishing harbours” and investments in “aquaculture facilities” are clear examples of developing infrastructure to support the blue economy.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Yes, the article mentions several quantitative and qualitative indicators that can be used to measure progress:

• Contribution to GDP: The projection that the sector will add “R166bn to GDP” by 2035 is a key economic indicator for SDG 8.
• Number of Jobs Created: The goal to create “more than 600,000 jobs by 2035” is a direct indicator for SDG 8.
• Investment Amount: The article states that the aquaculture industry has attracted “over R4 billion in funding” over the past decade, which serves as an indicator of investment in sustainable industries (SDG 9 and SDG 14).
• Implementation of Policies and Plans: The existence and progress of the “Oceans Economy Master Plan,” “Marine Spatial Planning initiative,” and the “inland fisheries policy” are qualitative indicators of governance and commitment to sustainable management (SDG 14, SDG 2).
• Development of Protected Areas: The establishment and management of “Marine Protected Areas” is a concrete indicator for measuring progress on biodiversity and ecosystem protection (SDG 14).
• Growth in Specific Sectors: The growth of aquaculture, which “now represents the largest share of employment in the marine sector,” and the increase in coastal tourism activities (“diving, whale watching”) are indicators of successful economic diversification within the blue economy (SDG 8, SDG 14).

4. Summary Table of SDGs, Targets, and Indicators

Source: tradingview.com